Solved

Under Increasing Returns to Scale, Which of the Following Is

Question 18

Multiple Choice

Under increasing returns to scale, which of the following is the nature of the long run average cost curve?

A) downward sloping
B) upward rising
C) parallel to output axis
D) identical to short run average cost curve

Related Questions

Q13: Economic cost include both A)explicit cost and implicit

Q14: The cost expressed not in terms of

Q15: Implicit cost of a factor of production

Q16: The shape of TVC and TC are A)rectangular

Q17: The MC curve cuts the AC curve

Q19: The minimum point of ATC is at

Q20: AFC curve will always be A)rectangular hyperbola B)u shaped C)horizontal D)downward

Q21: Envelope curve is A)long run marginal cost curve B)long

Q22: MC at any level of output is

Q23: If the long run cost curve shifts